The 1,921-room Hilton Union Square, the city’s largest hotel, and the 1,024-room Parc 55 are expected to be sold to an unidentified buyer. Plus more hotel and development news.
IHG Hotels & Resorts will open its first hotel in Kashmir, voco Srinagar, in late 2026, featuring 95 rooms, diverse dining, and meting facilities – marking the sixth voco hotel in India.
Deutsche Hospitality has undergone a rebranding and is now known as H World International. The strategic move is aimed at bolstering the global expansion efforts of its parent company, H World,
Malaysia led Southeast Asia in foreign tourist arrivals in 2023 with 26 million visitors, followed by Thailand with 24.6 million. Vietnam attracted 12.6 million foreign tourists, reaching only 70% of pre-pandemic levels, while Cambodia's recovery rate was at 92.48%.
Vietnam's National Authority of Tourism set ambitious goals for 2024, aiming to match pre-pandemic tourism levels despite past challenges. The Philippines exceeded its 2023 tourism target, welcoming over five million international tourists and surpassing pre-pandemic international tourism revenue.
Dusit Hotels and Resorts opened Dusit Princess Phatthalung in Thailand, its first in the far south of the country. Regal Hotels International announced a partnership with Saudi Arabia's Ministry of Investment to build about 100 hotels globally, with a significant focus on the Middle East.
China hotel RevPAR increased by 30.7% YoY but was down by -6.8% compared to 2019.
South Korea aims to attract 1.5 million Chinese tourists, lifting group visit bans with incentives.
H World Group refines strategy for post-pandemic tourism in China, focusing on quality growth and lower-tier cities.